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Hackers Using 167 Fake Trading, Android, and iOS Crypto Apps to Steal Money

Industry experts have revealed 167 fake iOS and Android apps that hackers use to steal from online traders. Keep in mind that hackers use sophisticated procedures to get user’s attention. Hackers targeted users who installed the apps, mistaking them for legit crypto platforms.

Sophos, a cyber-security company, inspected the counterfeit apps, concluding that they resemble legitimate cryptocurrency applications. That seems like a common trick by scammers. Even with dating sites scamming, attackers lure the victims to install apps masquerading as legit. Hackers work quicker to steal your funds the moment you install the money-stealing applications.

While working, the researchers uncovered some app with an embedded live chat option. The investigators found out that the particular support replied using a near-similar language.

Also, the analysts exposed 167 fake crypto and trading apps loaded on one server.

With that, you can conclude that a single group can operate a scam in the market.

You may have to be extra careful to ensure your safety whenever in any of your online undertakings. Keep in mind that scammers target careless individuals. For instance, a hacker might direct you to bihumb.com. If not alert, you will mistake the site to be the popular Bithumb exchange. In most scenarios, hackers impersonate trusted and popular financial applications. Beware of the trap. In dating site scams cases, the attacker starts with a friendly chat before directing the user to install the fake money-stealing apps. That is what Jagadeesh Chandraiah, a Sophos researcher, uncovered. 

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In one incident, the attacker befriended dating app users with fake profiles. The scammer would then chat with the users for some time before directing them to install certain apps, after which they can deposit cryptocurrency and money to the fake apps.

The scammer then blocked any user who attempted to close the account or cash out the funds.

The attacker developed scam iOS App Store with fake client reviews. That would convince users that they are installing the App from a legit App store.

To avoid installing malicious apps, get your apps from genuine sources like Apple’s app store and Google Play.

Adeline Gibbs (Italy)

Adeline Gibbs is a writer and a vital contributor to Tokenhell. She always stays up-to-date with latest happenings in crypto world.

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